LL Flooring reverses course and will keep hundreds of stores under new owner

After securing a last-minute buyer, LL Flooring is reversing course on shutting down all of its stores. The hardwood flooring retailer formerly known as Lumber Liquidators signed an agreement with private equity firm F9 Investments for a sale of its business late last week. Under terms of the deal, expected to close by the end of September pending bankruptcy court approval, F9 will acquire 219 stores as well as LL Flooring’s intellectual property. Another 211 LL Flooring stores are still set to close, however, under the Virginia-based company's previously-announced plans. F9 is owned by Tom Sullivan, who founded Lumber Liquidators over 30 years ago. He says the company will be going “back to basics.”